EDIT: It's too bad gnome-terminal no longer supports setting the title but I understand their desire to keep the codebase small. I have switched to ROXTerm and it has this feature and more. You can make it look very close to gnome-terminal. Very happy so far.

A comment about GNOME Terminal:
I agree, that was indeed one of the dumbest things GNOME Terminal could have done, when one has a lot of servers to keep track of, removing the tab-labeling was a real stupid decision.

Comments

From the downvotes. I know this answer does not make people happy, but this is the actual answer to this question: Gnome terminal has just had a lot of its functions removed for various reasons. "Go install X" is not really an answer to THIS question. OK, go install Emacs and use Eshell---it is more extensible and feature rich than you can imagine, but it does not have tabs as such, but named buffers do the same thing better, IMHO.